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Soaring Demand Set to Propel Gum Confectionery Market to $45.86 Billion by 2029
Gum Confectionery Market
What Is the Expected CAGR for the Gum Confectionery Market Through 2025?
The size of the gum confectionery market has seen considerable growth in the past few years. It is projected to increase from $33.78 billion in 2024 to $35.81 billion in 2025, representing a compound annual growth rate (CAGR) of 6.0%. The past expansion can be credited to several factors including flavor innovation, marketing tactics, innovative packaging, consumer brand loyalty, and the introduction of sugar-free and functional varieties.
What's the Projected Size of the Global Gum Confectionery Market by 2029?
In the upcoming years, the gum confectionery market is anticipated to witness robust expansion, escalating to $45.87 billion in 2029 with a compound annual growth rate (CAGR) of 6.4%. Factors such as health-aware consumers, sensory adventures, globalization and cultural amalgamation, sustainable measures and ingredient innovation account for this predicted growth. During the forecast period, notable trends will encompass functional and health-enhancing ingredients, decreased sugar use and natural sweeteners, new and foreign flavors, interactive and appealing packaging, as well as environmentally-friendly packaging and sustainability.
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Top Growth Drivers in the Gum Confectionery Industry: What's Accelerating the Market?
The gum confectionery market is poised for growth due to the rising sales of chewing gum. Chewing gum, a sweet and flavored product designed to be chewed without being swallowed, often contains chicle or similar resilient substances to maintain its chewable texture. Given that chewing gums are a subset of the larger gum confectionery market, any increase in their demand directly impacts the overall market. For example, the National Confectioners Association reported in March 2022 that the sale of candy, gums, and mints in the US shot up by 13.8% in 2022, reaching $3.2 billion, compared to $3.1 billion the previous year. Therefore, the escalating sales of chewing gum act as a key driver in propelling the gum confectionery market.
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What Trends Will Shape the Gum Confectionery Market Through 2029 and Beyond?
In the gum confectionery market, the trend of product innovation is gathering steam. Key companies in the sector are focusing on developing novel solutions to reinforce their market standing. Illustratively, Perfetti Van Melle, a confectionery and chewing gum manufacturing and distribution company in the Netherlands, upped the innovation ante by launching Mentos Citrus Vitamin Gum in December 2022. This unique creation is sugar-free and offers 25% of the daily recommended dose of vitamins B6, C, and B12. The gum is equipped with a liquid center to provide enduring freshness and carries a blend of vibrant citrus flavors, ensuring continuous burst of flavor with each chew.
What Are the Main Segments in the Gum Confectionery Market?
The gum confectionery market covered in this report is segmented -
1) By Type: Sugared Gum, Sugar-Free Gum
2) By Form: Sticks Or Tabs, Pellets Or Pillows, Liquid Filled Gum, Other Forms
3) By Distribution Channel: Super market Or Hyper market, Specialty Stores, E-Commerce, Other Distribution Channels
Subsegments:
1) By Sugared Gum: Chewing Gum, Bubble Gum, Fruit-Flavored Gum
2) By Sugar-Free Gum: Chewing Gum, Mint-Flavored Gum, Functional Gum
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Which Top Companies are Driving Growth in the Gum Confectionery Market?
Major companies operating in the gum confectionery market include Perfetti Van Melle Pvt. Ltd., Mars Incorporated, Lotte Confectionery Co. Ltd., Mondelez International Inc., Grenades Gum LLC, Cloetta AB, The Hershey Company, Ferrero International S A, Gumlink Confectionery Company A S, Haribo GmbH & Co KG, FERNDALE CONFECTIONERY PTY. LTD., Tootsie Roll Industries Inc., Meiji Holdings Co. Ltd., Grupo Arcor, Zed Candy B.V., Yildiz Holding A.S., Chupa Chups SA, Peppersmith, The PUR Company Inc., Project 7, Simply Gum, Extra Gum, Wrigley Company, Big League Chew, Mentos, Trolli GmbH, Skittles, Xylichew
Which Regions Will Dominate the Gum Confectionery Market Through 2029?
Asia-Pacific was the largest region in the gum confectionary market in 2024. The regions covered in the gum confectionery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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